Analysts/Institutional Investor Meet/Con. Call Updates

SBI Funds Management Limited A joint venture between SBI & AMUNDI (CIN - L65990MH1992PLC065289) Ref. No.: FM/CS/2026/485 Date: October 29, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza Plot No. C/1 Phiroze Jeejeebhoy Towers G Block Bandra – Kurla Complex Dalal Street Bandra East Mumbai – 400 051. Mumbai – 400 001. Scrip Symbol: SBIFUNDS Scrip Code: 544829 Sub: Transcript of the earnings conference call relating to financial performance of the Company for the quarter and half year ended September 30, 2026. Dear Sir / Madam, Pursuant to Regulation 30 read with Schedule III Part A Para A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations), please find enclosed the transcript of the earnings conference call held on Friday, October 23, 2026, at 06:00 p.m. (IST) relating to financial performance of the Company for the quarter and half year ended September 30, 2026. The transcript of the aforesaid earnings conference call is also available on the Company’s website at https://sbifunds.com in compliance with Regulation 46 of the SEBI Listing Regulations. We request you to please take the above information on record. Thanking you, Yours faithfully, For SBI Funds Management Limited Vinaya Datar Chief Compliance Officer, Company Secretary and Head Legal Membership No.: ACS 15527 Encl: As above Regd. Office: 9th Floor, Crescenzo, Plot C-38 & 39, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai - 400051. Tel: +91 22 6179 3000 I Fax: +91 22 6742 5688 I Website: https.//sbifunds.com I E-mail: companysecretary@sbimf.com SBI Funds Management Limited Q2 FY27 Earnings Conference Call October 23, 2026 Page 1 of 12 Moderator: Ladies and gentlemen, good day and welcome to the Q2 FY27 Earnings Conference Call of SBI Funds Management Limited. From the management team, we have: Mr. Debasish Mishra, Managing Director and CEO; Mr. Srinivas Jain, Joint CEO; Mr. Manish Mehta, Chief Business Officer; Mr. Amol Joshi, Chief Financial Officer; Vinaya Datar, Chief Compliance Officer; Dinesh Balachandran, Head of Investments; Manish Chheda, Chief Investor Relations Officer, joining the call. I now hand the conference over to Mr. Debasish Mishra. Thank you, and over to you, sir. Debasish Mishra: A very good evening to everyone and thank you for taking the time to join the call. Let me begin with a brief view of the macro environment. The second quarter was marked by steady domestic fundamentals and broadly stable earnings, even as global pressures from higher crude, firm US yields, and a stronger dollar triggered foreign outflows and bouts of volatility. Despite this, strong domestic participation helped absorb the outflow shock, reflecting the ongoing shift of household savings into financial assets and keeping overall market sentiment resilient. Now, I will brief about the mutual fund industry. Mutual fund quarterly average AUM expanded by 13% year-on-year and 5% sequentially as on 30th September 2026, touching INR 87.5 trillion at the end of September 30. Monthly SIP inflows continued to show strength despite market volatility and touched all-time record high of INR 32,490 crores in September'26. On fixed income, debt AUM saw a 5% year-on-year moderation, while liquid AUM recorded a strong 27% increase. Passive AUM grew 23% year-on-year, highlighting sustained investor interest. Overall, industry inflows remained constructive despite short-term volatility across all categories. Industry continued to have a positive new customer addition, reaching up to 6.3 crores unique customers, an increase of 11% year-on-year. Now, let me tell you the performance of SBI Funds Management. The company sustained its leadership in the industry, with quarterly average AUM market share of 15%. Our mutual fund quarterly average AUM stood at INR 13.14 lakh crores, registering 10% Y-o-Y growth compared to INR 12 lakh crores in the same quarter last year. As on September 30, 2026, our active quarterly average AUM was INR 8.99 lakh crores, reflecting 9% year-on-year increase, and our 5-year CAGR was 17%, backed by stable performance and sustained investor flows. On passive front, we remain the largest passive asset manager with quarterly average AUM of INR 4.15 lakh crore, up by 11% year-on-year, further strengthening our leadership in that segment. On the alternate side, PMS and advisory QAAUM stood at INR 13.32 lakh crore, broadly in line with expectations. While the previous quarter saw a one-time relocation of a large mandate, it doesn't have any material impact on our revenues, and the underlying business momentum remains stable. Our AIF platform continues to scale well, with QAAUM at INR 7,437 crores, reflecting 27% year-on-year growth. To further strengthen and deepen our AIF capabilities, we have also added a dedicated business head for the AIF practice, bringing sharper focus to product expansion and institutional engagement. Offshore funds contributed approximately INR 42,100 crores to the overall AUM. Gross margins across equity, debt, liquid, and passive strategies remained stable Page 2 of 12 during the quarter, and there has been a continued expansion in gross yields on a year-on-year basis. Our unique customer count increased by 10% during the year, rising to 1.85 crores as of September 30, 2026. Our SIP AUM rose to INR 2.07 lakh crores with a 15% year-on-year increase. Monthly SIP inflows continue to remain steady at about INR 3,900 crores. We continue to maintain one of the largest distribution networks in the industry, supported by nearly 136,000 distribution partners. This includes over 125,000 independent financial advisors, over 10,000 national distributors, and over 96 banking partners, including State Bank of India, supplemented by 23,000+ SBI branches and 297 SBI Funds Management branches. This extensive reach enables us to service investors across more than 98% of pin codes in the country. Our strong presence across Tier 2 and Tier 3 cities is reflected in the healthy B-30 contribution, with nearly 2/3rd of SIP inflows originating from these markets, underscoring our expanding reach and commitment to broad-based financial inclusion. Let me brief you about the new product launches. We continue to maintain a strong product pipeline across Mutual fund, SIF, PMS, and AIF, with a clear emphasis on differentiated, investor-focused offerings. During Q2, we launched five new products, including one SIF, further strengthening our overall product suite. Among the filed offerings, both the Magnum Equity Ex‑Top 100 Long Short Fund, and SBI Balanced Hybrid Fund saw stronger investor responses. Our Magnum Equity Ex-Top 100 Long Short Fund closed its NFO as one of the largest funds in its category. Our GIFT City franchise continues to scale well, supported by the launch of SBI Global Thematic Advantage Fund. This initiative enables the investors in India to access global investment opportunities through LRS route. We are enhancing our capabilities across active, passive, and alternative strategies, with strong traction in AIF, PMS, and SIF, and growing international reach through GIFT City and offshore mandates, reinforcing our ability to serve rising India-focused demand. Now, I'll brief you about technology and digital improvements. We continue to strengthen our digital-first approach. Today, 94% of our transactions are done digitally, supported by stronger adoption across InvesTap, Mitra, and partner platforms. InvesTap has grown into one of the largest digital investing apps in the industry, with over 4.3 million registered users. Monthly digital volumes now exceed 1.4 million transactions, and our ongoing investment in technology, AI, and automation are helping us to scale efficiently, enhance distributor productivity, and deliver seamless experience to investors. We recently showcased our new tech platform called Aarambh at the Global Fintech Festival in Mumbai. Aarambh is [Showing first 8,000 characters — download PDF for full document]